Kissane: KBC fined €18.3m as bank's resistance to tracker mortgage probe was 'off the charts'           

The Central Bank of Ireland has announced it has fined KBC Bank Ireland over €18m for regulatory breaches affecting tracker mortgage customer accounts. Picture: Leah Farrell/Rollingnews.ie

The Central Bank has fined KBC Bank Ireland over €18.3m for its part in the industry-wide tracker mortgage scandal after the lender's “deeply unsatisfactory” response only served to increase the financial harm inflicted on customers.

Following the €21m fine imposed on Permanent TSB last year, the KBC fine is the second ruling following the regulator’s five-year tracker investigation into Irish mortgage lenders and other banks have set aside many millions for their anticipated fines.